Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”
Arlington has blasted into the summer real estate market with a vengeance, setting a record for the year.
Sellers listed a whopping 91 homes for sale this week, the most so far this year. And buyers ratified a remarkable 78 contracts with 36 of those homes selling within a week. This could be a harbinger of what to expect for the summer: a sizzling hot market.
Certainly the demand has been there all year. The shortage of homes for sale has held back the number of transactions. Sellers should be getting the memo that NOW is a great time to list their home.
Buyers were handed some great news this week as interest rates dropped again to the lowest level since December 2017. The 30-yr fixed rate dropped to 3.85%. A year ago the rate was 4.54%.
The bad news for buyers: the cost of a new home will be going up as 5% tariffs will be imposed on Mexican products starting on Monday. The U.S. imports many home building products from Mexico such as steel and concrete.
Tight inventories are now effecting the rental market as well. Concessions to renters to entice them to sign up have dropped 30% since a year ago, and landlords are raising rent prices 3.1% on average.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 4141 N. Henderson Road #506, Arlington, VA 22203 — $392,800
- 3041 S. Abingdon Street, Arlington, VA 22206 — $485,000
- 2400 N. Clarendon Boulevard #1009, Arlington, VA 22201 — $534,999
- 6012 25th Street N., Arlington, VA 22207 — $825,000
- 1200 N. Nash Street #855, Arlington, VA 22209 — $839,000
- 2204 S. Joyce Street, Arlington, VA 22202 — $850,000
- 700 N. Harrison Street, Arlington, VA 22205 — $1,199,900
- 15 N. Jackson Street, Arlington, VA 22201 — $1,485,000